Vedanta Limited recently secured INR 8500 crores through a qualified institutions placement (QIP) of its equity shares, with legal guidance provided by Cyril Amarchand Mangaldas (CAM). The QIP, following SEBI’s ICDR Regulations and the Companies Act, 2013, kicked off on July 15, 2024, and concluded on July 19, 2024, seeing nearly triple the expected subscriptions. The shares were officially allotted on July 20, 2024.
As a prominent player in natural resources, Vedanta’s operations span several countries, including India, Namibia, Ireland, South Africa, Liberia, and the UAE, focusing on minerals and oil and gas exploration and processing.
CAM’s role in this transaction was pivotal, offering a full spectrum of legal and strategic advisory services. The Capital Markets team led by Yash Ashar, with key contributions from senior and associate team members, played an instrumental role in ensuring the transaction’s smooth execution. The effort was also supported by international legal counsel from Linklaters Singapore Pte. Ltd., alongside Citigroup Global Markets India Private Limited, JM Financial Limited, and Nuvama Wealth Management Limited as book-running lead managers. The deal was initially signed on May 20, 2024, and closed on July 20, 2024.
